Lemonade, the digital insurance pioneer renowned for its AI-powered solutions and commitment to social impact, has announced a major expansion of its home insurance portfolio in the United Kingdom.
Starting in July 2024, UK homeowners will have access to Lemonade’s comprehensive Buildings and Contents insurance, marking a key development in the company’s expansion strategy. This new offering, created in collaboration with established insurer Aviva, is designed to deliver extensive coverage for residential properties and personal belongings, with policies beginning at just £14 per month.
The new Buildings and Contents insurance product is tailored specifically for the UK market and has achieved a Defaqto 5-star rating. Customers can secure instant coverage through the Lemonade app or its online platform.
Base coverage under the new policy includes protection for rebuild costs, temporary accommodation, civil and property liability, and flexible contents coverage up to £100,000. Lemonade also provides a range of add-ons to enhance coverage options:
- Home Emergency Assistance: Offers support for urgent issues such as broken boilers, burst pipes, faulty locks, or electrical failures.
- Accidental Damage: Covers damage caused by unforeseen accidents to the home or its contents.
- Theft and Loss: Protects against theft and accidental loss of items both inside and outside the home, including valuables like bicycles, laptops, and phones.
- Legal Protection: Provides specialized legal support for disputes related to the insured home, clinical negligence, and employment contracts.
This expansion is reinforced by Lemonade’s ongoing partnership with Aviva, which began with the company’s initial UK launch in October 2022.
Daniel Schreiber, CEO and co-founder of Lemonade, highlighted the significance of this partnership, stating, “The UK has proven to be an exciting market for us, with a large digitally-savvy population that values an easy, personalized experience. Expanding our home insurance offerings so rapidly reflects our dedicated team and successful collaboration with Aviva.”
Jon Marsh, Managing Director of Partnerships and Transformation, Personal Insurance at Aviva, shared similar sentiments, adding, “We are thrilled to extend our partnership with Lemonade in the UK, building on our successful initial product launch in 2022. Aviva and Lemonade share aligned values, and together, we aim to deliver innovative propositions and exceptional experiences for customers.”
The introduction of Lemonade’s Buildings and Contents insurance in the UK marks a significant milestone in the company’s mission to transform the insurance sector through digital innovation and customer-focused solutions.
UK residents can now purchase new policies via the Lemonade app.
Lemonade is licensed and supervised by the Dutch Central Bank (DNB) and operates in the UK through its branch establishment, authorised by the Prudential Regulation Authority. The company is also regulated by the Financial Conduct Authority and subject to limited regulation by the Prudential Regulation Authority.
